GE Capital: 'double-dip' U.S. recession unlikely

ChristopherHinton

NEW YORK (MarketWatch) -- The financial arm for General Electric Co.
GE, -0.22%
doesn't foresee a second recession occurring in the U.S. and that the financial turmoil in Europe is unlikely to tamper domestic growth. "Most of our customers are Main Street, small to mid-ticker size businesses," said Dan Henson on Wednesday, the chief executive for the North America unit of GE Capital. "It's Americans selling to Americans, Canadians selling to Canadians and Mexicans selling to Mexicans...I don't see the EU presenting a problem here," he said. Earlier, Henson said he doesn't see a "double-dip" recession occurring in the U.S., though he added that prolonged volatility and economic pressure would require a review of that outlook. "We are hearing cautious optimism," he said. "We predict positive momentums and trends" for North America.

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